The Manitoba securities watchdog issued an investor warning on March 20 about Jbcapitals and Halifax & Associated for defrauding over $5,500 from a rural Manitoban. The two companies are related to one another and work mainly in Switzerland and Denmark.
Manitoba Securities Commission Official Confirmed Crypto scammers lured victims in Facebook Ad
Senior MSC investigator Jason Roy has confirmed that a Facebook ad for Jbcapitals has tempted the victim:
“The company, Jbcapitals claimed to invest in Bitcoin/cryptocurrency markets on behalf of their clients with an ‘85% success rate’, but the victim was never able to recover any of his initial investment or supposed returns.”
The MSC alerts investors that they should look for red flags which indicate fraud. These involve offering high returns or insider knowledge, and also placing pressure on investors to take fast decisions.
Winnipeg Police Service warns citizen of scams involving Bitcoin ATMs
On March 17, the Winnipeg Police Service published an article in the Winnipeg Free Press reporting that a large number of Manitobans have fallen victim to scams “where fraudsters are having victims send them money in the form of Bitcoin.”
The scams are carried out under a variety of pretexts, such as fake romantic liaisons or work openings, with victims sometimes being guided to move BTC via Bitcoin ATMs.
The police also advised Manitobans not to pass funds to people they have not met in person or to use a Bitcoin ATM to pay “government utility bills”